Credit Industriel ET Commercial Takes Position in Eastman Chemical Company $EMN

Credit Industriel ET Commercial purchased a new stake in Eastman Chemical Company (NYSE:EMN) in the second quarter, Holdings Channel reports. The firm purchased 3,000 shares of the basic materials company’s stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vontobel Holding Ltd. bought a new stake in Eastman Chemical during the 2nd quarter valued at $392,000. Principal Financial Group Inc. lifted its stake in shares of Eastman Chemical by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 155,509 shares of the basic materials company’s stock worth $13,702,000 after purchasing an additional 8,708 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in Eastman Chemical by 36.9% during the first quarter. OneDigital Investment Advisors LLC now owns 3,029 shares of the basic materials company’s stock valued at $267,000 after purchasing an additional 816 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in Eastman Chemical by 235.2% in the second quarter. Y Intercept Hong Kong Ltd now owns 66,200 shares of the basic materials company’s stock valued at $4,942,000 after purchasing an additional 46,453 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Eastman Chemical by 19.2% in the second quarter. Nisa Investment Advisors LLC now owns 67,112 shares of the basic materials company’s stock worth $5,066,000 after purchasing an additional 10,813 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Price Performance

NYSE EMN opened at $61.25 on Friday. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 6.16 and a beta of 1.31. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78. The stock’s fifty day moving average price is $63.43 and its 200 day moving average price is $71.27. Eastman Chemical Company has a 1 year low of $56.75 and a 1 year high of $107.50.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.28 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The business’s revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 EPS. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. As a group, equities research analysts forecast that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EMN. Weiss Ratings upgraded shares of Eastman Chemical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. Mizuho lowered their target price on shares of Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. KeyCorp set a $79.00 price target on shares of Eastman Chemical and gave the stock an “overweight” rating in a report on Monday, August 4th. UBS Group decreased their price objective on Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday. Finally, The Goldman Sachs Group dropped their target price on Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Eastman Chemical has an average rating of “Moderate Buy” and an average price target of $79.33.

About Eastman Chemical

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.